Hiren Consider the following financial statement information for the Newk Corporation:ItemInventoryBeginning$ 6,899Ending$8,497Accounts receivable4,1895,159Accounts payable5,6806,996Credit sales$ 67,985Cost of goods sold43,318Calculate the operating and cash cycles.Operating cycle

Average inventory = ( beginning inventory + ending inventory)/2Average inventory =…

Answered: Consider the following financial…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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suppose that a company's cash flow statement showed the following: net income: 22,523.99 deprecitation 4580.77 accounts receivable -543.32 inventory 592.81 accounts payable 880.05 what is this companys net cash from operating activities? A. 23,453.53 B. 27,154.25 C. 27,697.57 D. 28,034.30 E. 27,441.48
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Please help me with show all calculation thanku
The following financial statements apply to Jordan Company: Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Year 2 $ 219,900 Year 1 $ 180,700 125,000 102,700 19,200 17,200 9,400 8,400 2,800 2,800 20,900 16,100 177,300 147,200 Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (47,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 42,600 $ 33,500 $ 8,000 3,000 $ 4,900 3,000 35,200 30,100 201,000 198,000 4,600 3,600 248,700 105,500 21,700 $ 375,900 242,700 105,500 0 $ 348,200 $ 38,400 16,100 $ 34,100 16,300 54,500 50,400 46,700 65,700…
The Griggs Corporation has credit sales of $908,950. 2.65 times 1.95% 10 times 14 times 1.78 times 40% Total assets turnover O Cash to total assets Accounts receivable turnover Inventory turnover Current ratio Debt to total assets Using the above ratios, complete the balance sheet. Note: Round your answers to the nearest whole dollar. Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Assets GRIGGS CORPORATION Balance Sheet Liabilities and Stockholders' Equity Current debt Long-term debt Total debt Equity Total debt and stockholders' equity
Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: Line Item Description Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,500 $12,500 Inventory 51,650 44,200 Accounts payable 8,480 5,100 Dividends payable 9,480 6,100 Adjust net income of $75,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,200 Expenses Cost of goods sold Depreciation expense Salaries expense $51,875 7,400 11,800 71,075 $ 14,125 Net income Prior Partial Balance Sheet Accounts receivable Inventory Salaries payable Current year $10,900 S 14,200 13,800 1,580 year 8,600 970 Required: Present the operating activities section of the statement of cash fl outflows as negative amounts.)
FMT Trading Inc. has the following financial data: Annual sales 10,000,000Cost of goods sold 6,000,000Inventory 2,547,945Accounts receivable 1,643,836Accounts payable 1,200,000 a. What is the firm’s cash conversion cycle?b. Provide interpretations of the cash conversion cycle period of the firm.
Selected financial data for Amberjack Corporation follows. Year 1 ($ thousands) 339,270 265,261 Sales Cost of goods sold Net income Cash flow from operations Cash Marketable securities Accounts receivable Inventories Total current assets Accounts payable Accrued liabilities Total current liabilities (171,114) (60,875) 342,780 343,746 22,947 6,681 716,154 30,508 46,294 76,802 a. Current ratio a. Quick ratio b1. Collection period b2. Inventory turnover (X) b2. Payables period (days) b3. Days' sales in cash b4. Gross margin b4. Profit margin Year 2 ($ thousands) a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. Year 1 477,721 357,524 b. Assuming a 365-day year for all calculations, compute the following: 1. The collection period each year based on sales. 2. The inventory turnover and the payables period each year based on cost of goods sold. 3. The days' sales in cash each year. 4. The gross margin and profit margin each year.…
Smith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities of
For the company 'ODK Emporiki' the following is given its Balance Sheet and Income Statement : Assets Plots Buildings Machinery Stocks Customers Cash and cash equivalents Total assets Liability Chapter Reserves Balance sheet Long-term loans Suppliers Accounts payable Total Liabilities Profit and loss statement Net sales Cost of Sales Gross Profit Administrative expenses Disposal costs Other costs and losses Net profit 150.000 320.000 120.000 95.000 75.000 60.000 820.000 300.000 135.000 210.000 145.000 30.000 820.000 875.000 650.000 225.000 45.000 85.000 30.000 65.000 Requested: 1. The common size analysis (vertical analysis) for the above financial statements (balance sheet, income statement) of the company 'ODK Commercial'. 2. If the gross profit margin is 15% and the general liquidity is3% of the sector where the company 'ODK Emporiki' belongs, calculate and comment on the corresponding ratios of the company in relation to those of the sector. Can there be an interaction between…
The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,300 Expenses Cost of goods $ sold 51,675 Depreciation 8,100 expense Salaries 12,000 71,775 expense Net income $ 13,525 Partial Balance Prior Sheet Current year year Accounts $ $ 9,900 receivable 14,400 Inventory 13,700 8,300 Salaries payable 1,550 850 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Accounts receivable increase

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Consider the following financial statement information for the Newk Corporation: Item Inventory Beginning $ 6,899 Ending $8,497 Accounts receivable 4,189 5,159 Accounts payable 5,680 6,996 Credit sales $ 67,985 Cost of goods sold 43,318 Calculate the operating and cash cycles. Operating cycle